Exploring the Beta Model Using Proportional Budget Information in a Contingent Valuation Study

Hui Li (), Robert P. Berrens, Hank C. Jenkins-Smith Carol L. Silva and David Leo Weimer
Additional contact information
Hui Li: Department of Economics, Eastern Illinois University
Hank C. Jenkins-Smith Carol L. Silva: George Bush School of Government and Public Service, Texas A&M University

Economics Bulletin, 2005, vol. 17, issue 8, pages 1-9

Abstract: Using a set of random telephone and Internet (web-based) survey samples for a national advisory referendum, we implement Beta models to handle proportional budget information, and allow for consistency in modeling assumptions and the calculation of estimated willingness to pay (WTP). Results indicate significant budget constraint effects and demonstrate the potential for Beta models in handling mental-accounting type information.

Keywords: Beta model; budget constraint; Kyoto Protocol; mental accounts; referendum (search for similar items in EconPapers)
JEL-codes: Q2 (search for similar items in EconPapers)
Date: 2005-09-19
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